Gracell Bio enters into $150M private financing deal to expand on CAR T therapies

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Gracell Biotechnologies Inc. has entered into a purchase agreement with a group of institutional and accredited healthcare specialist investors. Gracell will receive $100 million in proceeds from the private placement of ordinary shares, with up to an additional $50 million. 

The transaction includes participation from new and existing institutional investors and is being led by Vivo Capital, with participation from investors including Adage Capital Partners LP, Exome Asset Management, Janus Henderson Investors, Logos Capital, OrbiMed, Pivotal Life Sciences, RA Capital Management and TCGX, among others.

Gracell intends to use the net proceeds from the proposed financing to fund research and development of its clinical-stage product candidates and research programs and for working capital and other general corporate purposes. The aggregate proceeds from this proposed financing, combined with current cash, cash equivalents, is expected to be sufficient to fund the current operating plan into the second half of 2026.

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More than half of deaths that are not attributed to disease progression or recurrence after CAR T-cell therapy are caused by infections—an unprecedented finding that experts say marks a shift from a conventional focus on mitigating treatment-specific adverse events to including prevention and management of infections.